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Broadcom cutting 1,150 jobs

Mobile revolution eats its children

Broadcom announced that it will have to cut 1,150 jobs due to slow demand for its mobile chips. The company’s Q4 forecast is short of what the market was expecting and now the market is expecting blood.

Boardcom’s Q3 numbers weren’t bad, income $316 million, up from $220 million a year ago. However, the problem is in Broadcom’s lack of an LTE enabled solution, do looking forward things could get messy. The fact that several chipmakers are already working on SoCs with integrated LTE is another issue, as Broadcom was simply too late to offer its solution.

Broadcom believes it will start to generate LTE revenue in early 2014, which means the first products are coming soon, but not soon enough.

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